The method of probability assessment that relies on an examination of historical data from similar situations is:
A) relative frequency of occurrence.
B) classical assessment.
C) historical assessment.
D) subjective assessment.

Question

Quizplus · Accepted Answer

The relative frequency of occurrence method of probability assessment relies on examining historical data from similar situations to estimate the likelihood of future events. This approach assumes that past frequencies can be a good indicator of future probabilities.

The Method of Probability Assessment That Relies on an Examination